Hogan Lovells, Paul Weiss, Simpson Guide Blackstone’s QTS Buy

Hogan Lovells and Paul, Weiss are advising data-center operator QTS Realty Trust Inc. on its agreement to be acquired by private equity firm Blackstone Group Inc. in a deal valued at about $10 billion.

Blackstone is getting advice from Simpson Thacher & Bartlett for the deal, which calls for Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust Inc. and other Blackstone vehicles to pay $78 per share for QTS.

With headquarters in Overland Park, Kan., QTS operates data centers, with over 7 million square feet of space in North America and Europe.

“QTS aligns with one of Blackstone’s highest conviction themes—data proliferation—and the required investment makes it well suited as a long-term holding for our perpetual capital vehicles,” said Greg Blank, senior managing director of Blackstone Infrastructure Partners.

Upon closing, expected in the second half, QTS common stock will no longer be listed on the New York Stock Exchange, according to a statement.